REGISTERED NUMBER: 07464619 (Wales)

Cornerstone Commercial Insurance

Services Ltd

Unaudited Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M I Wayman

J L Jones

REGISTERED OFFICE:

Unit E Copse Walk

Cardiff Gate Business Park

Cardiff

CF23 8RB

REGISTERED NUMBER:

07464619 (Wales)

ACCOUNTANTS:

Xeinadin South Wales & West Limited

Accountants & Business Advisors

Suite 2d,

Building 1 Eastern Business Park

St Mellons

Cardiff

CF3 5EA

FIXED ASSETS

Intangible assets

4

4,083

8,167

Tangible assets

5

745

2,023

4,828

10,190

CURRENT ASSETS

Debtors

6

3,606

40,886

Cash at bank

84,909

48,740

88,515

89,626

CREDITORS

Amounts falling due within one year

7

39,065

36,850

NET CURRENT ASSETS

49,450

52,776

TOTAL ASSETS LESS CURRENT LIABILITIES

54,278

62,966

PROVISIONS FOR LIABILITIES

186

627

NET ASSETS

54,092

62,339

CAPITAL AND RESERVES

Called up share capital

8

7,500

10,000

Capital redemption reserve

2,500

-

Retained earnings

44,092

52,339

54,092

62,339

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30 September 2025 and were signed on its behalf by:

J L Jones - Director

1.	STATUTORY INFORMATION

Cornerstone Commercial Insurance Services Ltd is a private company, limited by shares , registered in Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company meets its working capital requirements through the ongoing support of its parent company. If this support is removed, it may not be appropriate for the financial statements to be prepared on a going concern basis and as such the company's assets and liabilities may have to be restated.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

20% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

20,418

AMORTISATION

At 1 January 2024

12,251

Charge for year

4,084

At 31 December 2024

16,335

NET BOOK VALUE

At 31 December 2024

4,083

At 31 December 2023

8,167

5.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2024

and 31 December 2024

6,389

DEPRECIATION

At 1 January 2024

4,366

Charge for year

1,278

At 31 December 2024

5,644

NET BOOK VALUE

At 31 December 2024

745

At 31 December 2023

2,023

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other debtors

3,606

40,886

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Taxation and social security

22,056

18,520

Other creditors

17,009

18,330

39,065

36,850

8.	CALLED UP SHARE CAPITAL

During the year, the company bought back 2,500 Ordinary shares for £62,300.